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A roundup of recent retail property transactions:
• Dallas-based LPC Retail bought the 79,000-square-foot Acadian Village Shopping Center from a Dallas-based private real estate fund advised by Crow Holdings Capital for $38.2 million. The tenants include Lululemon, Petco, Pier 1 Imports and Trader Joe’s.
• DRA Advisors and DLC Management Corp. purchased the 174,600-square-foot Southern Tier Crossing, in Horseheads, N.Y., for $18.5 million. NKF Capital Markets represented the seller, DDR Corp. Southern Tier Crossing is situated within a larger, 522,700-square-foot power center and is anchored by Buffalo Wild Wings, Dick’s Sporting Goods and PetSmart.
• A Texas-based investor purchased two shopping centers in metro Dallas — the 42,650-square-foot, Kroger-anchored McDermott Towne Crossing, in Allen, and the 14,480-square-foot Carrollton (Texas) Retail Center — for a combined $17.1 million. Disney Investment Group represented the seller, Los Angeles–based Westwood Financial Corp.
• A private buyer purchased the 84,760-square-foot Old Kings Commons, in Palm Coast, Fla., from Regency Centers for $10.6 million. Matthews Real Estate Investment Services represented the buyer. Anchors there include Bealls Outlet and Staples.
• A Los Angeles–based private investor sold the 18,500-square-foot Miracle Day Shopping Center, in La Habra, Calif., for $4 million to an undisclosed buyer through a 1031 exchange. SRS Real Estate Partners represented the seller.
By Brannon Boswell
Executive Editor, Commerce + Communities Today